The fall IPO calendar is heating up, with a slew of hotly-awaited companies, such as Rivian and InstaCart, on deck to list. Yet it’s already been a banner year for equity raises via the IPO process in the U.S. — on track to beat last year’s record. As of the end of September, 19 companies raised more than $1 billion via IPOs on the Nasdaq and New York Stock Exchange. The top five are Coupang (CPNG), which raised $4.6 billion, DiDi Global (DIDI), which raised $4.4 billion, Bumble (BMBL), which raised $2.5 billion, Robinhood Markets (HOOD), which raised $2.3 billion and AppLovin (APP), which raised $2.0 billion. As of the same time in 2020, 15 companies had raised $1 billion or more via IPOs — with another eight joining them by year-end. The top three, Snowflake (SNOW), Airbnb (ABNB) and DoorDash (DASH) each raised between $3 billion and $4 billion.This year through September companies have raised a total of $98.0 billion through the IPO process on U.S. exchanges. This includes foreign issuers of American Depository Receipts (ADRs), such as Didi, Oatly (OTLY) and Full Truck Alliance (YMM). There were no major direct listings that raised …
